Simply put, the insurance excess is the amount of money you would need to pay towards any claim you make. For example if there was damage costing £300 to fix, and you had a £100 excess, the insurance company would pay out £200.
With younger drivers, some insurance companies insist on a high excess, or you can opt for a higher excess which will probably give you a lower insurance premium.
Rob Laird - ADI
RPL Driving School
Thursday, 23 October 2008
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1 comment:
Nice post. Thanks for explaining the meaning of car insurance excess. I am not much familiar with the terms associated with car insurance policy so is trying to learn about it before buying a plan.
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